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A third round of funding to accelerate growth

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16 October 2019
ProcSea, the B2B marketplace specialized in fish products, raises 6.5 million euros to facilitate the seafood trade and accelerate the sector's digital transformation.

Estimated to be worth hundreds of billions of euros, the seafood market is highly complex, volatile and multi-faceted, with numerous stakeholders and intermediaries showing ingrained habits. ProcSea provides a unique digital solution that facilitates and simplifies the seafood trade by championing local distribution channels.

ProcSea does this with total transparency by breaking down barriers between professionals, fishermen and fish merchants!

ProcSea, a Franco-Swiss start-up launched in September 2016 by its two co-founders Renaud Enjalbert and Florian Dhaisne, has just completed another funding round of funding, raising 6.5 million euros from Serena (its lead investor), Cap Horn and previous investors FJ Labs (New York), Alpana Ventures (Lausanne), Samaipata Ventures (Madrid) and Piton Capital (London). This funding will enable the start-up to continue driving the seafood industry's digital transformation by providing innovative technology and breaking down all the barriers between catering professionals and artisans of the sea.

Thanks to ProcSea, it has never been so simple to buy seafood products in Europe: multiple orders, but one delivery!

The marketplace makes life easier for its professional clients (restaurants, fishmongers, wholesalers and central buying services) by connecting them in real time and just one click to the biggest fish markets in Europe. Food professionals have direct and commitment-free access seven days a week and free of charge to a wide range of freshly caught or processed seafood products including cephalopods, crustaceans, shellfish and (recently added) deli products. Through its open platform, ProcSea is championing local distribution channels and championing total transparency, with buyers able to choose products based on numerous criteria (provenance, fishing technique, quality grade, label and seller name). They no longer need to waste time juggling all their suppliers to find products or compare every offers: the entire catch is now accessible in just a few clicks thanks to a dense network of sellers (fishermen, fish merchants and processors) across the whole of Europe.

Meanwhile, sellers can access a free and simple solution that does not require a subscription and allows them to share their products in a few clicks at their leisure. With ProcSea, they can enjoy a safe and secure turnkey service and export without the need for any financial or human investment as well as avoiding any risk to cash flow. ProcSea takes care of everything from order collection to delivery, while also providing currency risk hedging. With increasing numbers of sellers signing up, this model clearly meets a real demand.

"We aim to empower all professionals working in the seafood industry and offer a simple digital solution to help them gain new markets and galvanise their business. As for buyers, we want seafood product procurement to stop being a problem and a time waster. Our solution should simplify their everyday lives by providing transparent access to the entire market," explains Renaud Enjalbert, Co-Founder and CEO.

Although ProcSea is a 100% digital solution driven by innovation, the human touch remains central to its development strategy. ProcSea helps customers and sellers daily with their digital transformation. Since it was launched, over 1000 customers (Michelin-starred restaurants, wholesalers, distributors and fishmongers) have already used the platform and over 100,000 orders have been shipped by specialist transporters.

6.5 million euros to become a key digital meeting place where all stakeholders in the European and worldwide seafood industries come together.

A year after raising 2.5 million euros, ProcSea has now completed a new round of funding that will enable the company to extend its product offering and provide new technologies to meet all customer demands of its clients, whether they are a Michelin-starred restaurateur in Lausanne looking for outstanding produce, a fishmonger in London wanting to take their range to the next level with an exotic product, or a central buying service hoping to link its IT system to the platform. ProcSea aims to be accessible everywhere, at any moment and for everyone! Already present in France, the United Kingdom (London) and Switzerland, ProcSea is hoping to open up its platform to new European markets in 2020 and take on long-distance exports, having carried out promising summer 2019 tests in this area.

A pioneer when it comes to digitising the fresh seafood trade, ProcSea also plans to develop new features by integrating artificial intelligence to improve customer experience. AI will be added to numerous services already available on the platform and meeting client needs, such as modules for calls for bids, pre-orders and pre-sales.

To achieve its goals, ProcSea is set to invest heavily in innovation and is seeking multilingual talent in tech, product, data, marketing, operations and customer services.

ProcSea: from the sea to your plate!

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